Note 9 - Subsequent Events |
3 Months Ended |
|---|---|
Sep. 30, 2017 | |
| Notes to Financial Statements | |
| Subsequent Events [Text Block] |
NOTE
9 - SUBSEQUENT EVENTS
On October 26, 2017
, pursuant to the
2014 Equity Incentive Plan, the Company issued 1,880,000 incentive stock options of the Company’s common stock, with an aggregated estimated grant-date fair value of $769,000, to 20 Company employees. In addition, the Company issued 90,000 non-qualified stock options of the Company’s common stock, with an aggregated estimated grant-date fair value of $37,000, to three members of its Board of Directors. During the period from
October 1,
2017 through November 14, 2017 we borrowed an aggregate of $735,000 from Esenjay under our Unrestricted Line of Credit. As of November 14, 2017, the amount outstanding under the Unrestricted Line of Credit was $7,415,000, with an aggregate of $2,585,000 available under the Unrestricted Line of Credit for future draws at Esenjay’s discretion. As of November 14, 2017, Esenjay owns approximately 64% of our issued and outstanding common stock (See Note 4 ). |